Thread by @jdorman81

To all token holders. @arca submitted a proposal in June that benefits ALL token holders. We presented facts & details. We are now awaiting an actual response by .@gnosisPM & .@koeppelmann.

Thus far, Gnosis has simply provided more unsubstantiated promises.

Thread 👇

For those unfamiliar, the value of & USD in Gnosis' Treasury is worth $70 million, which would give every holder $153/token (currently trading at $58). This means Gnosis is destroying value for its tokenholders.

Gnosis had 3+ months since we first engaged them, yet below is their only response. We demand a formal response to our claims that includes a detailed, forward looking plan.

👇 is NOT a plan. This is a 2018 blog post attempting to justify past actions.

Unlike Gnosis who continues to act like a secretive hedge fund that uses tokenholder’s money to do whatever they please, the Arca team will happily respond to all questions and criticism. If we missed anything, please reply and we'll respond to that too.

Please explain @koeppelmann & @StefanDGeorge how anything you have shipped to date has accrued value to tokenholders? We provided detailed reasons for why the GNO token does not accrue value -- your turn for a rebuttal. No more "we'll share soon".

"We have been planning" is not enough. Every other successful project in this space communicates via detailed outlines. What does “community stewardship” mean? Give us transparency reports, a launch date, tangible proof that something is happening.

We're thrilled that you "foresee this becoming a focus", but once again, this was not laid out in your white paper nor communicated in real-time to your community. If this is your plan, spell it out for tokenholders.

These dialogues should be in public. Arca is a tokenholder & member of the community, as are hundreds of other tokenholders who, based on Twitter responses, are also in the dark on this so-called plan. Spell it out & give the whole community a voice.

You continue to talk about Ethereum, and how you support Ethereum. But don't forget Gnosis took from investors in the ICO and gave them back in return. You are long /short while long tokenholders await answers.

@StefanDGeorge Thank you for the opinion on tokenomics. However, the community is still waiting for the new tokenomics plan for your own token. When can we expect to see this plan?

Even anonymous founders of 2-week old projects are doing the right thing for their communities, & .@koeppelmann is impressed. How will 3+ year old centralized Gnosis respond to its own community who is constantly doubting progress & asking questions?

@yanivgraph We agree Gnosis created value for Ethereum; but not for . Long-term trust only comes from communication & forward planning. Do you own ? If so, demand that they give you detailed plans w/ dates & milestones & updated progress reports.

@TheTomPain This is all we are asking. A roadmap and a plan. Not too difficult of a request, nor are we and other tokenholders asking for something that is beyond the scope of basic corporate responsibility.

@AndrewDARMACAP no one questions their intelligence, kindness or integrity. We question their governance, priorities & communication. A company needs to follow through on ideas. Based on the whitepaper, has GNO done this? Do you own ? Demand more.

@odtorson You are correct, this is framing. We know there is no legal precedent here (yet). We are framing it this way b/c there is an expectation of delivery of value to those who provide capital. It is a loan, paid back either via utility or money.

@_mattyamamoto If is intrinsically worth zero, then this is a breach of fiduciary responsibility. The company and holders believe there is value. We believe the value is the cash we lent Gnosis, if they disagree, they need to prove otherwise.

.@spencernoon Exactly. Many companies have equity & tokens in their cap structure, & their board of directors serve both.

.@Consensys .@ethereumJoseph - Spencer & others want to know why the Gnosis BODs doesn't serve both equity holders & holders?

.@_mattyamamoto Companies should believe their token has LT value. That's the point; create value (financially or via utility).

A tender won't crash price, it will set a floor and instill confidence in mgmt.

@theblue_panda You are assuming the token is a utility & not a security. If it is a utility, then @gnosisPM needs to actually utilize in their products. If GNO provides no utility, nor financial gain, what would you suggest tokenholders to do?

@jake_crypto Here's my response:

@moo9000 Tokenholders do, & should, have rights & should play a role in governance & stewardship.

There are plenty of examples where investors have a voice w/out legal framework -- for example ESG investing. ESG investors are creating positive change.

@mattysino Agreed. A token in a growth industry would only trade at 29% of book value if investors don't trust management. Up to .@koeppelmann to change that -- build trust by providing holders what they want. Our money back, or a detailed plan.

@danieltbar gets it. Governance is built into traditional finance - we're trying to highlight that this can, and should occur in digital assets too.

Anything less than a detailed plan from @gnosisPM at this point should enrage all holders

@whattheusecase This is the response that all holders should have.

Tokenholders should demand new plans if they are unhappy with the current ones. Tokenholders have voices, so we encourage all tokenholders to speak up.

@MalthusJohn Good points! The entire digital assets community needs to exert pressure on companies that don't deliver. I'd love @MessariCrypto to voice an opinion - they stand for transparency & "Trust In Crypto". Where are they & others? Let's discuss!

In closing -- why should @gnosisPM have to be backed into a corner to even recap their decisions from the past 3 years?

Tokenholders deserve better, more transparent real-time and forward looking communication.